Why should I choose AMS?
Since 1992, AMS' core business has been to provide Customer Service/Outsourcing and Third Party collections. AMS collectors are professional and seasoned; our employee retention rate is among the highest in the industry. Proprietary systems help track and locate individuals responsible for payments. AMS offers fully customizable programs, as well as 24/7 access to account information and reporting. Auto dialers are never used – every phone call is placed and received by an AMS representative. AMS is a bonded and insured agency.
What services do you offer?
AMS is a "cradle to grave" agency. Our capabilities are three-fold; depending on your needs we can provide the following, individually or in combination: (a) first party collections in a Customer Service/Outsource capacity, (b) traditional third party collections, and (c) a legal department that can facilitate both nationwide and international litigations.
What is Customer Service / Outsourcing?
AMS Customer Service Representatives function as an extension of your organization. We contact your accounts to determine why balances remain open and to locate the party responsible for approving payment. The majority of customers never realize they are dealing with an outside company. In fact, AMS has a proven track record of not only maintaining, but enhancing the client relationship with current customers, while collecting outstanding funds.
Do you require a contract?
What type of accounts do you collect?
AMS accepts commercial accounts only.
Do you have a minimum debt you will collect on?
The minimum for Customer Service/Outsourcing is $50.00. For Third Party collections, the minimum is $100.00.
Do you collect international accounts?
Yes. AMS is your global resource for all collection needs.
Are there any upfront charges?
No. Our fees are contingent upon successful collection of your accounts.
What is your fee structure?
Just as every client is distinct, AMS bases its fee structure on the nature of the collection program that we design for the client. All fees are contingent, which means we only get paid if you do. There is no minimum or maximum placement volume required.
What is your fee if the customer returns product?
If you accept the return as a reduction of the placement balance and the return was a result of our efforts, AMS receives a reduced contingent rate.
How do I place accounts for collection?
Whether it is one account or a large volume, placing with AMS is very simple. You can place through our website, e-mail, or FTP in most electronic formats (such as Excel spreadsheet). The placement process is completely customizable - whatever is easiest for you. For those clients that may require assistance in establishing an automated process, we can provide the technical expertise to help extract and transmit your data securely.
How do I determine when an account should be sent for collection?
There are no set parameters, but a good guideline would be 90 to 120 days from date of invoice. Circumstances such as loss of contact, broken promises, mail returns or lack of response would be signs that the account should be forwarded sooner. The quicker the open items are sent to collection, the better chance for recovery.
What information is needed to collect my account?
To start the collection process we need the name, address, contact name, telephone number, fax number and the contact's e-mail address along with the outstanding balance and the invoice(s) information. Additional backup documentation (invoice copies, contracts, etc.) can be provided at time of placement or by request at a later date.
Do you have a minimum number of months the account is worked before you close it?
No. Generally we will work a file for 90 days, at which time we should have a determination as to its collectability. Should circumstances dictate, we could close earlier (bankrupt, out of business, skip, paid, or settled) or hold them (solid contact, negotiating payment, payment plans, litigation).
What geographic areas do you cover?
Allen, Maxwell & Silver is a global accounts receivable management firm. We handle commercial collections throughout the 50 United States, as well as all international locations.
How quickly do you begin to collect?
AMS begins contacting your customers within 24 hours of placement through correspondence (letters, e-mails) as well as by telephone.
Do you skip trace?
Yes. We have a department dedicated to skip tracing, unlike many agencies that use their collectors to skip trace. Our investigators utilize various resources to obtain additional information on your customers and help determine the ability of a debtor to make payment.
How often will I be updated on my accounts?
We will forward a performance report to you on the 4th of each month. The report includes a line item detail showing the current status of the account, as well as any collections made. Moreover, 24/7 access to your accounts and reports is available via our website.
Do you provide online access?
Yes. Our Remote Access package is a web-based product that allows you real time access to our collection notes and the transaction history of your claim(s). It also permits you to post comments directly on claims. Your note will appear at the top of the collector's queue, to ensure it is the next item viewed. With this system, you can produce performance and batch track reports, and direct them to your e-mail address.
Does AMS accept credit cards and electronic checks?
Yes – at no charge to you or your customer.
What is your success rate?
That depends largely on the age of the receivable at the time of placement and will vary depending on the industry. We cannot guarantee that we will always collect on your placements; we do guarantee that each and every placement is worked thoroughly.
Can we contact the collector’s directly or do we contact our client representative?
You may contact either a collector, or your representative – whatever you prefer.
Can we establish a standard settlement percentage of the debt or will we be required to sign off on each settlement offer?
Yes, we can set a blanket settlement amount and only contact you on any settlement offer that falls under the threshold.
Will you litigate on my behalf?
Yes. AMS has a national network of over 200 attorneys all certified and bonded by the Commercial Law League of America. If our efforts have not brought about a resolution, but there is sufficient reason to believe that litigation could be successful, we will recommend that you litigate the claim. There is no up-front cost to forward any account to an attorney for a demand and review process.
Will I have to appear in court if suit is filed on my behalf?
Only in the event that your claim goes to trial. In the vast majority of cases, there will be no witness requirements.
Is there a charge for litigating?
The contingent fee rate does go up, but it includes all of the contingent attorney fees and contingent suit fees. The only responsibility the client has would be for advance court costs, which may be recoverable in a successful collection.
What is the statute of limitation on the age of an outstanding debt?
The statutes vary from state to state, but typically it is anywhere from three (3) to seven (7) years. Of course, if a judgment is obtained, it is good for ten (10) years with an option to renew for ten (10) more years.
Can AMS customize reports to suit my individual needs?
Yes. AMS offers an array of customizable reports which we will be pleased to tailor to meet your individual requirements.
Will you deduct your fees from the funds forwarded to me?
We offer various options. Based on your preference, AMS can send net remittances and invoice for our fees, or we can deduct our fees from client payments. For payments you receive directly, we can deduct from future remittance, or invoice you. The choice is yours.
How will AMS remit funds to me?
Depending on your preference, we will provide batch payments or separate payments for each account.
How often do you remit collected funds to me?
We will establish a remittance schedule to suit your needs: weekly, bi-weekly, semi-monthly or monthly. After collected funds have been cleared, we will remit them to you as follows: certified funds (money orders, certified checks, credit card payments, wire transfers, attorney recoveries) will be released after two (2) business days; checks (personal checks, business checks, electronic checks) will be released after seventeen (17) business days.